Problem 13-1A Calculating and analyzing trend percents LO P1 Selected comparative financial statements of Haroun Company follow. ($ thousands) Sales Cost of goods sold Gross profit Operating expenses Net income HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2019-2013 2019 2018 2017 2016 2015 2014 2013 $2,691 $2,357 $2,145 $1,966 $1,834 $1,706 $1,398 1,936 1,575 1,355 1,186 1,102 1,030 821 790 780 732 676 577 576 451 414 305 265 261 217 $ 179 $ 331 $ 376 $ 475 $ 467 $ 415 $ 360 755 782 HAROUN COMPANY Comparative Balance Sheets December 31, 2019-2013 2019 2018 2017 2016 2015 2014 2013 ($ thousands) Assets Cash Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Long-term liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity $ 137 $ 181 $ 189 $ 192 $ 200 $ 197 $ 204 986 1,036 938 719 633 600 423 3,569 2,598 2,270 1,913 1,718 1,459 92 1,058 82 51 91 77 78 41 @ @ 281 281 281 281 4,366 4,350 3,804 2,147 2,219 1,973 1,693 $9,150 $8,247 $7,252 $5,343 $5,128 $4,588 $3,700 $2,302 $1,936 $1,270 $1,057 $ 917 5 867 $ 559 2,459 2,142 2,084 968 988 1,070 803 1,665 1,665 1,665 1,480 1,480 1,295 1,295 416 416 416 370 370 324 2,308 2,088 1,817 1,468 1,373 1,032 719 $9,150 $8,247 $7,252 $5,343 $5,128 $4,588 $3,700 324 Required: 1. Complete the below table to calculate the trend percents for all components of both statements using 2013 as the base year. 2. Refer to the results from part 1. (a) Did sales grow steadily over this period? (b) Did net income as a percent of sales grow over the past four years? (Did Inventory increase over this period? 1. Complete the below table to calculate the trend percents for all components of both statements using 2013 as the base year 2. Refer to the results from part 1. (a) Did sales grow steadily over this period? (0) Did net income as a percent of sales grow over the past four years? (9 Did inventory increase over this period? Complete this question by entering your answers in the tabs below. Requireyi Compis Required 1 Comp BS Required 2 Complete the below table to calculate the trend percents for all components of comparative income statements using 2013 as the base year. (Round your percentage answers to 1 decimal place) HAROUN COMPANY Income Statement Trends For Years Ended December 31, 2019-2013 2018 2017 2016 2010 2015 2014 % Sales Cost of goods sold Gross profit Operating expenses Not income 2013 100.0 100.0 100.0 100.0 100.0% Required 1 Comp B5 > Complete this question by entering your answers in the tabs below. Required: Comp is Required: Como BS Required 2 Complete the below table to calculate the trend percents for all components of comparative balance sheets using 2013 as the base year. (Round your percentage answers to 1 decimal place.) 1 HAROUN COMPANY Balance Sheet Trends December 31, 2019-2013 2017 2016 2019 2018 2015 2014 2013 % % % 100.0 % 100.0 Assets Cash Accounts receivable, not Merchandise inventory Other current assets Long-term investments Piant assets, nel 100.0 100.0 100.0 1000 % 100.0 % % Total assets Liabilities and Equity Current liabilities Long-term liabilities Common stock Other paid in capital Retained eamings Total liabilities & equity 100.0 % 100.0 100.0 100.0 100.0 % 100.0% Required: 1. Complete the below table to calculate the trend percents for all components of both statements using 2013 as the base year. 2. Refer to the results from part 1. (a) Did sales grow steadily over this period? (6) Did net income as a percent of sales grow over the past four years? (a Did Inventory increase over this period? Complete this question by entering your answers in the tabs below. Required 1 Comp IS Required 1 Comp BS Required 2 Refer to the results from part 1. (a) Did sales grow steadily over this period? (6) Did net income as a percent of sales grow over the past four years? (c) Did inventory Increase over this period? (a) Did sales grow steadily over this period? (6) Did net income as a percent of sales grow over the past four years? (c) Did Inventory increase over this period?
